Locomotive Market by Power Conversion Components (Rectifier, Inverter, Alternator, APU & Traction Motor), Technology (IGBT module, GTO Thyristor Module & SiC Module), Rolling Stock Type, and by Region - Global Trends and Forecast to 2021

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Date: 30-Aug-2016
No. of pages: 154
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“Increased rail infrastructure investment and technological advancement, are expected to fuel the demand for power conversion systems”

The Locomotive market for power conversion systems is projected to grow at a CAGR of 2.92%, to reach a market size of USD 4.27 billion by 2021. Major factor driving the growth of the locomotive market for power conversion systems is rapid urbanization in emerging economies. In view of the rapid growth in urbanization and industrialization, the need for power and conversion systems is anticipated to increase during the forecast period. Moreover, this will require a substantial increase in power generation capacity and in turn infrastructure investments in this segment.

“Increase in need for energy efficient technologies will give rise to demand for IGBT power modules”

The market for IGBT power modules is anticipated to gradually replace the market for GTO Thyristor modules, owing to the advantages offered in terms of efficiency and power density, and the ability to provide more power in a smaller space.

“Traction motor is the fastest growing segment among locomotive power conversion components”

Due to increasing need for development of energy efficient solutions for power conversion systems, there have been advancements in traction motors, which is driving the demand for energy efficient traction motors. The increase in the demand for traction motors can be attributed to the benefits offered such as weight reduction and decreased fuel consumption.

“Asia-Pacific: Fastest-growing market for locomotive market for power conversion systems”

The Asia-Pacific is estimated to dominate the locomotive market for power conversion systems, and is projected to grow at the highest CAGR during the forecast period. This growth can be credited to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The sizeable populations in countries such as China and India have resulted in increase in need for public transport, which in turn has resulted in an increase in the number of government rail projects.

Breakdown of Primaries

The study contains insights provided by various industry experts, ranging from component suppliers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:


  • By Company Type–Tier-1 - 55 %, Tier-2 - 20%, and Tier 3- 25%

  • By Designation - C level - 75%, Manager level –25%

  • By Region - North America - 10%, Europe - 20%, Asia-Oceania - 40% and RoW -30%


With the advancement in technology and government norms, OEMs are investing heavily in R&D activities to provide better more fuel-efficient products. One such new technology is the SiC power module which is currently in the introduction phase. This technology offers better efficiency in terms of reduced power loss and overall weight reduction and is anticipated to grow in the near future.

The report provides detailed profiles of the following companies:


  • Siemens AG (Germany)

  • CRRC Corporation Limited (China)

  • Bombardier Inc. (Canada)

  • Alstom S.A. (France)

  • Wabtec Corporation (U.S.)

  • Hitachi Ltd. (Japan)

  • Toshiba Corporation (Japan)

  • Strukton (Netherlands)

  • AEG Power solutions (Germany)

  • Turbo Power Systems (England)


Study Objectives


  • To define, describe, and project the locomotive power conversion system market on the basis of rolling stock type, components, technology and region

  • To analyze the opportunities offered by various segments of the market to stakeholder

  • To analyze the regional markets for growth trends, future prospects, and their contribution to the overall market

  • To track and analyze competitive developments such as joint ventures, mergers and acquisitions, new product launches, expansions, and other industry activities carried out by key industry participants


The Key stakeholders for this study are:


  • Manufacturers of rolling stock

  • Manufacturers of rolling stock power conversion components

  • Raw material suppliers for rolling stock or their power conversion components

  • Transport authorities

  • Legal and regulatory authorities

  • Fleet operators


Scope of The Report


  • By Technology

    • IGBT Module

    • GTO Thyristor

    • SiC Module



  • By Power Conversion Components:

    • Rectifier

    • Inverter

    • Traction motor

    • Alternator

    • Auxiliary power conversion unit



  • By Locomotive type

    • Diesel Locomotive

    • Diesel Multiple Unit (DMU)

    • Electric Locomotive

    • Electric Multiple Unit (EMU)



  • By Region

    • North America

    • Europe

    • Asia-Pacific

    • RoW



Locomotive Market by Power Conversion Components (Rectifier, Inverter, Alternator, APU & Traction Motor), Technology (IGBT module, GTO Thyristor Module & SiC Module), Rolling Stock Type, and by Region - Global Trends and Forecast to 2021

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered in the Report
1.4 Currency
1.5 Package Size
1.6 Stakeholders
1.7 Limitations

2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Secondary Sources
2.2.2 Key Data From Secondary Sources
2.3 Primary Data
2.3.1 Sampling Techniques & Data Collection Methods
2.3.2 Primary Participants
2.4 Factor Analysis
2.4.1 Introduction
2.4.2 Demand Side Analysis
2.4.2.1 Infrastructure: Rail Network
2.4.2.2 High-Speed Rail Links Between Major Countries
2.4.3 Supply Side Analysis
2.4.3.1 Technological Advancements
2.5 Market Size Estimation
2.5.1 Assumptions
2.5.2 Other Assumptions

3 Executive Summary
3.1 Introduction
3.2 Asia-Pacific to Lead the Locomotive Power Conversion System Market in Terms of Value and Future Growth
3.3 Traction Motor to Lead the Locomotive Power Conversion System Market (Value)
3.4 IGBT Module to Replace the GTO Module in the Near Future
3.4.1 Locomotive Power Conversion System Market is Led By Diesel Locomotives

4 Premium Insights
4.1 Locomotive Power Conversion System Marekt Size (Value), 2016 vs 2021
4.2 Locomotive Power Conversion System Market Size (Value), By Region & By Rolling Stock Type, 2016
4.3 Regional Market Share of Power Conversion System in Locomotives (Value), By Component
4.4 Rolling Stock Power Conversion System Market (Volume), By Technology
4.5 Rolling Stock Power Conversion Modules - Product Life Cycle Analysis

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 Global Locomotive Power Conversion System Market - Report Segmentations
5.2.1.1 Locomotive Power Conversion System Market, By Locomotive Type
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Power Conversion System Market to Be Fuelled By Growing Demand for Energy-Efficient Rolling Stock
5.3.1.2 Increase in Urbanization Will Boost the Demand for Rolling Stock
5.3.2 Restraints
5.3.2.1 Capital-Intensive Nature of Rolling Stock
5.3.3 Opportunities
5.3.3.1 Increased Demand for Rolling Stock in Emerging Market
5.3.3.2 Increase in Industrial and Mining Activities
5.3.3.3 Technological Upgradation: SiC Inverters
5.3.4 Challenges
5.3.4.1 High Overhaul & Maintenance Cost
5.4 Porter’s Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competetive Rivalry

6 Locomotive Power Conversion Systems Market, By Technology
6.1 Introduction
6.2 IGBT Power Module
6.3 GTO Thyristor Module
6.4 SiC Power Module

7 Locomotive Power Conversion Systems Market, By Region, Power Conversion Component & Locomotive Type
7.1 Introduction
7.1.1 Asia-Pacific Power Conversion System Market, By Component
7.1.1.1 Rectifier Market, By Country and Locomotive Type
7.1.1.2 Inverter Market, By Country and Locomotive Type
7.1.1.3 Traction Motor Market, By Country and Locomotive Type
7.1.1.4 Alternator Market, By Country and Locomotive Type
7.1.1.5 Auxiliary Power Conversion Unit Market, By Country and Locomotive Type
7.1.2 Europe Power Conversion System Market, By Component
7.1.2.1 Rectifier Market, By Country and Locomotive Type
7.1.2.2 Inverter Market, By Country and Locomotive Type
7.1.2.3 Traction Motor Market, By Country and Locomotive Type
7.1.2.4 Alternator Market, By Country and Locomotive Type
7.1.2.5 Auxiliary Power Conversion Unit Market, By Country and Locomotive Type
7.1.3 North America Power Conversion System Market, By Component
7.1.3.1 Rectifier Market, By Country and Locomotive Type
7.1.3.2 Inverter Market, By Country and Locomotive Type
7.1.3.3 Traction Motor Market, By Country and Locomotive Type
7.1.3.4 Alternator Market, By Country and Locomotive Type
7.1.3.5 Auxiliary Power Conversion Unit Market, By Country and Locomotive Type
7.1.4 Rest of the World Power Conversion System Market, By Component
7.1.4.1 Rectifier Market, By Country and Locomotive Type
7.1.4.2 Inverter Market, By Country and Locomotive Type
7.1.4.3 Traction Motor Market, By Country and Locomotive Type
7.1.4.4 Alternator Market, By Country and Locomotive Type
7.1.4.5 Auxiliary Power Conversion Unit Market, By Country and Locomotive Type

8 Competitive Landscape
8.1 Overview
8.2 Market Ranking Analysis: Locomotive Power Conversion Systems Market
8.3 Agreements/Partnerships/Supply Contracts/ Joint Venture
8.4 New Product Launches
8.5 Expansion
8.6 Mergers & Acquisitions

9 Company Profiles
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
9.1 Introduction
9.2 Hitachi Ltd.
9.3 Siemens AG
9.4 Crrc Corporation Ltd.
9.5 Bombardier Inc.
9.6 Alstom SA
9.7 Wabtec Corporation
9.8 Toshiba Corporation
9.9 Strukton
9.10 AEG Power Solutions
9.11 Turbo Power Systems

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

10 Appendix
10.1 Insights of Industry Experts
10.2 Discussion Guide
10.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
10.4 Introducing RT: Real Time Market Intelligence
10.5 Available Customizations
10.6 Developments, 2014–2016
10.7 Related Reports

List of Tables

Table 1 Locomotive Power Conversion System Market Market: By Locomotive Type
Table 2 Locomotive Power Conversion System Market Market: By Technology
Table 3 Locomotive Power Conversion System Market: By Components
Table 4 Infrastructure Investment and Maintenance Spending, By Country, (USD Billion)
Table 5 Porter’s Five Forces Analysis
Table 6 Global Locomotive Power Conversion Systems Market, By Technology, 2014–2021 (Units)
Table 7 IGBT Power Module Market, By Region, 2014-2021 (Units)
Table 8 GTO Module Market, By Region, 2014–2021 (Units)
Table 9 Locomotive Power Conversion Systems Market, By Region, 2014–2021 (Units)
Table 10 Locomotive Power Conversion Systems Market, By Region, 2014–2021 (USD Million)
Table 11 Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (Units)
Table 12 Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (USD Million)
Table 13 Asia-Pacific: Locomotive Power Conversion Systems Market, By Country, 2014–2021 (Units)
Table 14 Asia-Pacific: Locomotive Power Conversion Systems Market, By Country, 2014–2021 (USD Million)
Table 15 Asia-Pacific: Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (Units)
Table 16 Asia-Pacific: Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (USD Million)
Table 17 Rectifier: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 18 Rectifier: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 19 Inverter: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 20 Inverter: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 21 Traction Motor: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 22 Traction Motor: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 23 Alternator: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 24 Alternator: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 25 Auxiliary Power Conversion Unit: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 26 Auxiliary Power Conversion Unit: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 27 Europe: Locomotive Power Conversion Systems Market, By Country, 2014–2021 (Units)
Table 28 Europe: Locomotive Power Conversion Systems Market, By Country, 2014–2021 (USD Million)
Table 29 Europe: Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (Units)
Table 30 Europe: Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (USD Million)
Table 31 Rectifier: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 32 Rectifier : Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 33 Inverter: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 34 Inverter: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 35 Traction Motor: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 36 Traction Motor: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 37 Alternator: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 38 Alternator: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 39 Auxiliary Power Conversion Unit : Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 40 Auxiliary Power Conversion Unit : Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 41 North America: Locomotive Power Conversion Systems Market, By Country, 2014–2021 (Units)
Table 42 North America: Locomotive Power Conversion Systems Market, By Country, 2014–2021 (USD Million)
Table 43 North America: Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (Units)
Table 44 North America: Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (USD Million)
Table 45 Rectifier: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 46 Rectifier: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 47 Inverter: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 48 Inverter: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 49 Traction Motor: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 50 Traction Motor: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 51 Alternator: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 52 Alternator: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 53 Auxiliary Power Conversion Unit : Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 54 Auxiliary Power Conversion Unit : Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 55 RoW: Locomotive Power Conversion Systems Market, By Country, 2014–2021 (Units)
Table 56 RoW: Locomotive Power Conversion Systems Market, By Country, 2014–2021 (USD Million)
Table 57 RoW: Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (Units)
Table 58 RoW: Locomotive Power Conversion Systems Market, By Locomotive Type, 2014–2021 (USD Million)
Table 59 Rectifier: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 60 Rectifier : Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 61 Inverter: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 62 Inverter: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 63 Traction Motor: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 64 Traction Motor: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 65 Alternator: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 66 Alternator: Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 67 Auxiliary Power Conversion Unit : Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (Units)
Table 68 Auxiliary Power Conversion Unit : Locomotive Power Conversion Systems Market, By Country and By Locomotive Type, 2014–2021 (USD Million)
Table 69 Locomotive Power Conversion Systems Market Ranking, 2015
Table 70 Agreements/Partnerships/Supply Contracts/Collaborations, 2012–2016
Table 71 New Product Development, 2012–2016
Table 72 Expansions, 2014–2016
Table 73 Joint Ventures/Mergers & Acquisitions, 2011–2015

List of Figures

Figure 1 Locomotive Power Conversion Systems Market: Markets Covered
Figure 2 Research Design
Figure 3 Research Methodology Model
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation & Region
Figure 5 Rail Network, 2015
Figure 6 Data Triangulation
Figure 7 Market Size Estimation Methodology: Bottom-Up Approach
Figure 8 Locomotive Power Conversion Systems Market Snapshot (2016): Asia-Pacific Estimated to Hold Maximum Market Share
Figure 9 Locomotive Power Conversion Systems Market Size, By Power Conversion Components, 2016 vs 2021
Figure 10 Locomotive Power Conversion Market Share, By Technology, 2016
Figure 11 Asia-Pacific Holds the Largest Share in the Rolling Stock Market, By Locomotive Type, 2016 vs 2021
Figure 12 Attractive Market Opportunities for Power Conversion Systems in Locomotive
Figure 13 Asia-Pacific Leads the Locomotive Power Conversion System Market in 2016
Figure 14 Traction Motors Dominate the Locomotive Power Conversion System Market (Value) in 2016
Figure 15 IGBT Module to Account for Major Share in Locomotive Market for Power Conversion Systems (Volume), 2016
Figure 16 Product Life Cycle of Power Modules in Rolling Stock
Figure 17 Locomotive Power Conversion System Market: By Locomotive Type
Figure 18 Locomotive Power Conversion System Market, By Technology
Figure 19 Locomotive Power Conversion System Market, By Components
Figure 20 Growing Need for Public Transport Estimated to Raise the Demand for Locomotive Power Conversion System Market
Figure 21 Increasing Demand for Rolling Stock By 2021
Figure 22 Urban Population in Emerging Economies
Figure 23 Rolling Stock Infrastructure Investements, By Key Countries, (USD Billion)
Figure 24 China and India are Investing Heavily in Railway Infrastructure
Figure 25 Porter’s Five Forces Analysis (2016): Presence of Global Players Increase the Degree of Competition
Figure 26 Presence of Well-Established Players & High Entry Barriers Have the Highest Impact on Market Entrants
Figure 27 Availability of Substitutes & Technological Advancements Influence the Threat of Substitutes
Figure 28 Low Supplier Concentration & Product Differentiation Keeps the Bargaining Power of Suppliers in Check
Figure 29 High Degree of Independence Increases Bargaining Power of Buyers
Figure 30 Well Established Players & Long Term Contracts Limits the Competition
Figure 31 Locomotive Power Conversion Systems Market, By Technology, 2016 vs 2021 (Units)
Figure 32 Reduction in Power Losses With Use of SiC Module Over IGBT Module
Figure 33 Region-Wise Snapshot of the Locomotive Power Conversion Systems Market, By Volume (2016): Asia-Pacific Accounts for the Largest Market Share
Figure 34 Locomotive Power Conversion Systems Market: Emu is Expected to Have the Largest Market Size, By Volume, 2016
Figure 35 Asia-Pacific: China Leads the Market for Rolling Stock Power Conversion Systems
Figure 36 Germany is the Largest Contributor to the European Locomotive Power Conversion Systems Market
Figure 37 Companies Adopted Agreements/Partnerships/Supply Contracts/Collaborations as A Key Growth Strategy From 2012 to 2016
Figure 38 Market Evaluation Framework: Agreements/Partnerships/Supply Contracts/Joint Ventures Fuelled Market Growth From 2012 to 2016
Figure 39 Battle for Market Share: Agreements/Partnerships/Supply Contracts/Joint Ventures Was the Key Strategy
Figure 40 Hitachi Ltd.: Company Snapshot
Figure 41 Hitachi Ltd.: SWOT Analysis
Figure 42 Siemens AG: Company Snapshot
Figure 43 Siemens AG: SWOT Analysis
Figure 44 Bombardier Inc.: Company Snapshot
Figure 45 Bombardier Inc.: SWOT Analysis
Figure 46 Alstom SA: Company Snapshot
Figure 47 Alstom SA: SWOT Analysis
Figure 48 Wabtec Corporation: Company Snapshot
Figure 49 Toshiba Corporation: Company Snapshot
Figure 50 Strukton: Company Snapshot
Figure 51 AEG Power Solutions: Company Snapshot
Figure 52 Turbo Power Systems: Company Snapshot

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